Model N Unveils First Revenue Management Platform to Enable Digital Reinvention
Model N, Inc. (NYSE: MODN), the leading provider of revenue management solutions for the Pharmaceutical, Medical Device, High Tech, Manufacturing and Semiconductor industries, today announced the release of the next generation of its Revenue Cloud platform. Revenue Cloud now becomes the first end-to-end platform to enable digital reinvention for companies in these industries.
About Digital Reinvention
Digital disruption has already reduced the average tenure for companies on the S&P 500 list from 33 to 12 years, and only 8% of companies believe their business models will remain viable through digitization. Pharmaceutical, Medical Device, High Tech, Manufacturing and Semiconductor companies face a stark choice: reinvent or perish.
Bold digital reinvention strategies begin with placing customers at the center of companies’ digital activity. Instead of seeing themselves through the internal lens of functions, products, and processes, companies now see themselves through the lens of their customers. These strategies require a deep understanding of unique customer segment needs, business models, revenues, and profitability, and more.
Companies that embark on digital reinvention strategies must do the following:
- Redefine the business they are in
- Redefine who their customers are
- Reinvent their offerings to those customers
- Delight customers in each interaction
- Position themselves in the digital ecosystem
- Realign operations with intelligent internal processes
The Platform for Digital Reinvention
While an offensive platform strategy focused on the demand-side is proven to yield the best results, only 1.5% percent of companies have adopted one, mainly due to the lack of a Digital Reinvention platform.
Model N Revenue Cloud is the first Digital Reinvention platform, designed specifically for Life Sciences, High Tech and Manufacturing companies.
This release of Revenue Cloud includes the following highlights:
- Introduction of Model N CPQ, the next generation of Configure, Price and Quote, which enables companies to reinvent their offerings and their business models
- Introduction of Model N Channel Cloud, an end-to-end solution to manage the digital ecosystem and omni-channel
- Introduction of Revenue Cloud for Semiconductors and Revenue Cloud for Manufacturing
- New versions of Revenue Cloud for Pharma, Revenue Cloud for MedTech, and Revenue Cloud for High-Tech
Introducing Model N CPQ
Model N CPQ is the end-to-end, enterprise-grade platform that bridges the gap between Salesforce and SAP with robustness, performance and scalability that meet the needs of enterprises.
Model N CPQ enables companies to:
- Reinvent their offering to their customers by configuring solutions that are tailored to unique customer needs that include products, software services, data and other elements.
- Align their business with those of their customers’ by leveraging new models such as subscription, outcome base and risk-sharing among others.
- Delight their customers by digitizing their experience with new capabilities, such as self-service.
- Transform internal operations into intelligence processes with new Intelligent Approvals, guided selling, and business intelligence, cutting the process cycle-time to a bare minimum hence significantly enhancing the customer experience.
- Drive business expansion through digital ecosystems and omni-channel.
- Rapidly deploy and execute digital reinvention strategies by interoperating effectively with SAP and SAP Variant Configurator (VC). Marketing and Sales can now start with SAP VC KMAT models as a foundation for new offerings that are tailored to unique customer needs.
- Understand the profitability of a deal, a contract, customers and customer segments with insights that help them understand thoroughly the economics of their digital strategies. Model N CPQ now quotes based on net-price including rebates, Market Development Funds (MDF), and other incentives, not just gross-price.
“Model N next-generation CPQ enables companies to leverage their SAP and SAP VC infrastructure as a stepping stone for their Digital Reinvention strategy.” said Neeraj Gokhale, SVP and Chief Product Officer at Model N. “Creating a new value proposition for customers and aligning the business models with Model N CPQ is enabling companies to grow their top line.”
Introducing Channel Cloud
Embracing the digital ecosystem and omni-channel are paramount to Digital Reinvention. McKinsey research demonstrated that an emerging set of digital ecosystems could account for more than $60 trillion in revenues by 2025, or more than 30 percent of global corporate revenues. In a world of ecosystems, as industry boundaries blur, strategy needs a much broader frame of reference. Current point channel solutions fall significantly short of meeting the sophistication of the ecosystem.
Model N’s new Channel Cloud enables companies to leverage a wide ecosystem that includes global, multi-tier, sophisticated channels as part of their Digital Reinvention. Channel Cloud combines intelligent processes, visibility, sophisticated rewards to align business models, and a comprehensive data platform.
Channel Cloud enables companies to mesh with the digital ecosystem by:
- Driving their channels’ marketing execution to meet their revenue goals with Market Development Funds (MDF) Management. It is the first MDF solution in a fully integrated end-to-end channel solution.
- Establishing a digital ecosystem for channel collaboration with Channel Management. Companies can maximize revenue by avoiding channel conflict and flawlessly executing with the ecosystem.
- Incenting the channel to drive revenues with Rebate Management. Companies can balance discounting decisions and post-deal rebating based on results to optimize revenues.
- Ensuring a single source of truth with Channel Data Management (CDM), putting the entire digital ecosystem on the same page. CDM delivers real-time, accurate, complete channel data, including sales and inventory, enabling transparency and channel performance.
Channel Cloud is offered as part of Revenue Cloud for High Tech, Revenue Cloud for Semiconductors, Revenue Cloud for Manufacturing, and Revenue Cloud for MedTech.
Revenue Cloud Strengthened
In addition to Model N CPQ and the new Channel Cloud solution, Model N is announcing a completely new Revenue Cloud for Semiconductor and Revenue Cloud for Manufacturing suites, and new versions of its Revenue Cloud for Pharma, Revenue Cloud for MedTech, and Revenue Cloud for High Tech suites, to enable Digital Reinvention in those industries. Full details of each new Revenue Cloud solution are available at www.modeln.com or through the media contact listed below.
For more information on Model N Revenue Cloud, please visit modeln.com/products/revenue-cloud .
About Model N
Model N is the leader in Revenue Management solutions. Driving mission-critical business processes such as configure, price and quote (CPQ), contract and rebate management, business intelligence, and regulatory compliance, Model N solutions transform the revenue lifecycle from a series of disjointed operations into a strategic end-to-end process. With deep industry expertise, Model N supports the complex business needs of the world’s leading brands in life sciences, technology and manufacturing across more than 100 countries, including Johnson & Johnson, AstraZeneca, Novartis, Microchip Technology and ON Semiconductor. For more information, visit www.modeln.com. Model N is a registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.
Holly Hagerman, 801-373-7888
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
The European Project AMable Launches Its First Open Call17.7.2018 08:00 | Pressemelding
The European Project AMable has launched its First Open Call to find innovative ideas for additively manufactured products. The selected teams will be supported by AMable to develop an idea towards a final product by offering the services across all steps from design to finish. As a Factories of the Future (FoF) project participating in I4MS (ICT for Manufacturing SMEs) and with the support of the European Union's Horizon 2020 research and innovation programme, the aim of AMable project is to accelerate the uptake of additive manufacturing (AM) technologies; from design to manufacture for functional parts throughout the European Union. AMable is creating a digital framework to provide impartial access to the best European AM knowledge to support this adoption. This knowledge will be offered as advanced and tailored services to assist SMEs in the uptake of AM and include technological, business and training services. For this Open Call, the European Project is looking for original ideas
Norsk Titanium Marks Milestone in U.S. Production17.7.2018 07:00 | Pressemelding
The University of Notre Dame Turbomachinery Laboratory (NDTL), Norsk Titanium US, Inc. (Norsk), Pratt & Whitney and TURBOCAM International are collaborating to develop and test additively manufactured turbomachinery components. This collaboration will focus on exploring the applicability of Norsk’s Rapid Plasma Deposition™ (RPD™) material to turbomachinery applications. As part of this effort, NDTL will test an additively manufactured integrally bladed rotor (IBR) produced and inspected to meet the applicable quality specifications used in Pratt & Whitney’s current turbomachinery components. The team has completed the initial phase of testing, with TURBOCAM International conducting machining trials of Norsk’s RPD™ material, and Pratt & Whitney successfully inspecting the material to the same specification as forged turbomachinery components. The material’s manufacturing qualities were evaluated for applicability to TURBOCAM’s precision milling processes. “We were very pleased with the
More Than Half of Sub-Saharan Africa to Be Connected to Mobile by 2025, Finds New GSMA Study17.7.2018 07:00 | Pressemelding
More than half the population of Sub-Saharan Africa will be subscribed to a mobile service by 2025, according to the latest edition of the GSMA’s Mobile Economy report series, published at the GSMA ‘Mobile 360 – Africa’ event being held in Kigali this week. The new report forecasts that there will be 634 million unique mobile subscribers1 across Sub-Saharan Africa by 2025, equivalent to 52 per cent of the population, up from 444 million (44 per cent) at the end of last year. The report also calculates that the mobile ecosystem will add more than $150 billion in value to Sub-Saharan Africa’s economy by 2022, equivalent to almost 8 per cent of regional GDP. “For many citizens across the region, particularly those living in rural areas, a mobile phone is not just a communications device but also the primary channel for getting online and a vital tool for improving their lives,” commented John Giusti, Chief Regulatory Officer at the GSMA. “More needs to be done to extend connectivity to th
GSMA Finds That Consumers in Developing Countries Are Hard Hit by High Spectrum Prices17.7.2018 06:00 | Pressemelding
Better spectrum pricing policies are needed in developing countries to improve the economic and social welfare of the billions of people that remain unconnected to mobile broadband services, according to a new report, ‘Spectrum Pricing in Developing Countries’, released by the GSMA today at the Mobile 360 – Africa conference in Kigali. The study reveals that spectrum prices in developing countries are, on average, more than three times higher than in developed countries, when income is taken into account. This high spectrum pricing is a major roadblock to increasing mobile penetration. Authored by GSMA Intelligence, the study also found that governments are playing an active role in increasing spectrum prices to maximise state revenues from spectrum licensing. High spectrum prices are linked to countries with high levels of sovereign debt, and alarmingly average reserve prices in spectrum auctions are more than five times higher in developing countries than in developed, once income is
NEC and dotData Use AI to Accelerate Data Science for the SMBC Group17.7.2018 04:38 | Pressemelding
NEC Corporation (NEC) (TOKYO:6701) and dotData, Inc., a Silicon Valley venture in the automation of data science, today announced the provision and full operation of “dotData” platform for the Sumitomo Mitsui Financial Group, Inc. (SMBC Group) in order to strengthen the Group’s analytical capabilities. In recent years, the need for big data analytics has been growing rapidly. However, there is also an increasing shortage of data scientists to handle this need. In order to address this issue, dotData automates data science processes through artificial intelligence (AI). dotData platform is now commercially available globally. NEC has obtained an exclusive license from dotData to provide this software across Japan. Sumitomo Mitsui Banking Corporation, NEC and the dotData team have actively worked to incorporate AI into banking operations in order to create new service offerings since 2016. Following this success, the SMBC Group is now expanding the provision of dotData platform throughou
Cushman & Wakefield To Acquire Its Irish Affiliate From Sherry FitzGerald Group16.7.2018 13:49 | Pressemelding
Global real estate services firm Cushman & Wakefield today announces it has entered into a definitive agreement to acquire the commercial property arm of Sherry FitzGerald Group in the Republic of Ireland. The deal is expected to complete in early September 2018. Cushman & Wakefield already has a 20% stake in the Irish commercial property business which operated as its exclusive affiliate in the Republic – rebranding two years ago as Cushman & Wakefield Ireland. The firm, which has more than 100 commercial property professionals and offices in Dublin, Limerick and Galway, will now be fully integrated into Cushman & Wakefield, one of the world’s largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. Managing Director Aidan Gavin becomes Cushman & Wakefield’s Head of Ireland and will also sit on the firm’s UK & Ireland Executive Committee. Cushman & Wakefield will maintain its close affiliate relationship with the wider Sherry FitzGerald G